The Year 2017 was extraordinary in the course of development of the Party and nation. The 19th National Congress of CPC, the Central Economic Work Conference and the National Financial Work Conference have been successfully held, positioning and guiding China’s historical development. The conferences depicts a time table and action plan for great cause of the Party and nation, clearly defining the key objectives and core tasks of economic and financial work and outlining the direction and path for the stable development in capital market reform.

The banner of direction is upheld for unified endeavor. In 2017, Shenzhen Stock Exchange (SZSE) comprehensively and thoroughly studied, publicized and implemented the spirit of the 19th National Congress of the CPC. SZSE conscientiously implemented the guidelines and policies of Party and state and deployment of the CPC Committee of the China Securities Regulatory Commission (CSRC). SZSE implements the core tasks of serving real economy, preventing financial risks and deepening market reforms and adheres to the policy line of seeking progress while maintaining stability. SZSE, working in concert with members, actively respond to changes in the market situation, promote optimal allocation of market resources, focus on improving quality of market development, effectively safeguard the market operation and protect the legitimate rights and interests of investors. Shenzhen Stock Exchange maintains a smooth and orderly operation. Last year saw significant improvement in direct financing through SZSE, breakthrough in the issuance of local government bonds, further improvement in market cultivation and service, intensified effort in poverty alleviation and advancement in "Belt and Road" and the international development in an orderly manner. The power of the multi-tiered capital market to serve real economy has been effectively improved. By the end of December 2017, there were 2,089 listed companies with a total market capitalization of 23.58 trillion yuan (3.6 trillion USD), with 782.185 billion yuan (120 billion USD) in fund raised and 61.69 trillion yuan (9.5 trillion USD) of turnover of stock in the year 2017. By the year-end 2017, SZSE listed 535 funds, 3,846 bonds and 185 asset-backed securities.

The remarkable progress made by SZSE over the past year stems from the long-term strong support from all parties involved in the market, relevant units and people from all walks of life. I hereby express my sincere gratitude.

The 19th National Congress of the CPC established Xi Jinping’s thought of socialism with Chinese characteristics for a new era and established clear guiding principles for the cause of the Party and nation. The Central Economic Work Conference emphasized enhancing quality of economic development and put forward fundamental requirements for economic development. The National Financial Work Conference clarified the core tasks for financial oversight and provided the basic guidelines for development in the capital market. Faced with the new situation and tasks, SZSE as an important platform and financial infrastructure, must enhance awareness of overall coordination, think in big-picture terms and take a forward-looking view. SZSE consciously subordinate itself to and serve the needs of the development in the real economy, conscientiously obey and serve the overall national financial development and promote capital market reform and development in line with the Party and state policies.

Only with enhanced essential strength can we march steady and reach far. 2018 is the opening year for deployment of policies outlined in 19th National Congress of the CPC and the 40th anniversary of the reform and opening up. It is a critical year for scoring decisive victory in building a well-off society in an all-round way. It is also a year of connection in implementing the 13th Five-Year Plan. The Shenzhen Stock Exchange will adhere to Xi Jinping's thought on socialism with Chinese characteristics for a new era of as the guideline, comprehensively and thoroughly implement Central Government’s policies outlined in important conferences and focus on the three major challenges and eight key tasks. In accordance with overall deployment of CSRC, we will conscientiously implement the Securities and Exchanges Management Measures, exerts comprehensive efforts to advance work in an all-round and orderly manner, enhance application of innovative capital to resolve insufficiency and imbalance in capital market development and contribute to a high-quality economy.

Only by keeping the original mission deep in mind can we brave all challenges to achieve our goals. In 2018, SZSE will continue to perform its functions under the Party's leadership, guide our minds with Xi Jinping's thought on socialism with Chinese characteristics for a new era in practice and work at all fronts. We will adhere to our mission of serving the real economy and enhancing the direct financing capability through the multi-tiered capital market, and help the economy to achieve high-quality development. SZSE will continue to strengthen risk prevention and control, implement a comprehensive and rigorous supervision in accordance with the law and regulation, safeguarding the bottom line to prevent systemic financial risks. We will continue in the direction of market reform, give full play to the market’s decisive role in resource allocation, improve the market’s fair competition mechanism and let good performers thrive and let the poor performers exit the market. We will continue to deepen reform, intensify efforts in market reform and innovation to build an ecosystem in the capital market in support of innovative enterprises. We will continue to increase supply of innovative products. We will continue to open up the market, improve cross-border capital services mechanism to connectivity between domestic and international capital markets. We will work hard to build a multi-tiered capital market with sound investment and financing functions, solid fundamental institutions, effective market supervision and full protection of the legitimate rights and interests of investors, strong catalyst effect for the creativity and enterprising vitality of the entire society. We strive to achieve higher-quality, more efficient, more equitable, more sustainable development!

The new year brings renewed vitality to the world. In 2018, SZSE will continue to devote itself to building the world's leading innovative capital formation center and galvanize growth of the real economy. We hope all parties involved in the market, relevant units and people from all walks of life will continue to support SZSE. Let us join hands and strength, inspire vitality, pursue our dreams and continue splendor in the new era!